The Spend Cloud is a single software environment for all expenses: for your purchase-to-pay process and the management of smart payment cards for employees. It's an indispensable assistant that takes care of repetitive tasks, allowing employees to focus on their work.
Is invoice processing a challenge? Then, we can tackle this as the first step in Purchase to Pay automation together. Optimization of procurement and contract management can follow later. Are you already ready for the full workflow from order to delivery and automatic assessment of the associated invoice? We're here to help with that too.
Struggling with expense claims? Then, we implement Spend Cloud Expense: smart payment cards and expense claim software. This allows you to control smaller expenses as well. All expense processes are fully integrated in the Spend Cloud. In this article, we briefly discuss situations where the software can be effectively used. Then, we delve into the combination of Purchase to Pay (P2P) and Expense.
When is invoice processing with Spend Cloud interesting?
With invoice processing software, you can automate the processing of purchase invoices, reducing the number of manual steps required to process a purchase invoice, with the ultimate goal of achieving 'touchless invoice processing.' The software is designed in such a way that an invoice can be fully processed automatically through the system.
Invoice processing is valuable when you work with different departments and/or locations, and purchase invoices need to be approved by different individuals at various levels. Through Spend Cloud workflows, invoices automatically reach the desired approvers. The invoice can then be approved with a single click. Approved invoices can be seamlessly forwarded through integration with your financial software.
Read more about what Spend Cloud Invoice Processing can do:
When is contract management with Spend Cloud interesting?
Managing contracts in the Spend Cloud is valuable when you have many different contracts and want to centralize them in one place for better insight and control. Combined with invoice processing software, you can also ensure that invoices are automatically approved when they fall within the parameters of a contract, reducing manual work.
Prevent unwanted contract renewals
The Spend Cloud sends timely notifications to the contract manager when contracts are approaching expiration. This prompts a review to decide whether the contract should be renewed, modified, or terminated, preventing unwanted extensions.
Read more about what Spend Cloud Contract Management can do:
When is the commitments add-on for contract management interesting?
With the Spend Cloud, you gain control over future expenses and commitments arising from quotes or contracts.
This software is valuable when you anticipate specific costs related to a project with a supplier, for example. This module is always used in conjunction with the invoice processing module. When coding an invoice, you can link it directly to the commitment. In such a scenario, the invoice amount is deducted from the total commitment amount.
Read more about what Spend Cloud Commitments can do:
When is procurement software from Spend Cloud interesting?
Procurement software allows you to digitally track the procurement process from ordering to delivery and payment. By using Spend Cloud from the beginning of the process, you can proactively control purchasing goods or services. This applies to both services and goods.
- For occasional purchases of goods or services, you can use a purchase order.
- If goods and services are frequently and for an extended period, it's more efficient to work with a supplier contract.
Centralize the procurement process with (OCI) webshop integrations
The procurement process can be centralized by linking specific webshops from suppliers with whom you have contracts. This brings the approval process forward and provides more control over expenses.
Improve your invoice processing with procurement optimization
When an invoice is linked to a purchase order, it can be automatically approved when the associated purchase order is approved and the goods or services are received. This significantly speeds up the invoice processing process.
Read more about what Spend Cloud Procurement software can do:
Purchase to Pay: a combination of procurement, invoice processing, contract management, and obligations
With Purchase to Pay software, you connect processes precisely when they impact each other. The procurement process starts when an order is placed or as a result of contract closure, resulting in invoice processing. Logically, procurement, invoice processing, and contract management processes can be effectively combined in the Spend Cloud. With this combination, you always have visibility into the commitments you've made.
How does Purchase to Pay work in practice?
Imagine you work at healthcare institution X with three different (residential) locations. One of the residential locations has a new resident who needs a lift to get in and out of bed. This lift is currently unavailable and needs to be ordered.
Suzanne, an employee in the department where the new resident resides, can place orders herself in the Spend Cloud. She places an order through the Manutan webshop via a purchase order in the Spend Cloud. Manutan is a supplier with whom healthcare institution X has a contract for 20,000 euros per year. Suzanne's team leader receives the purchase order for review. Once approved, the order is sent directly to Manutan, and the lift is delivered to the desired department a few days later. The order can be marked as received. If anything is missing or incorrect in the order, it can also be noted.
The invoice for the lift is matched in the Spend Cloud to the previously created purchase order (for one-time expenses) or a contract (for recurring expenses) with the financial coding already specified. If an obligation has been created, it can be linked during coding. With software, you can achieve a balance between satisfied clients, happy employees, and a healthy business operation.
When are smart payment cards from Cash & Card interesting?
With smart payment cards, you simplify the spending and management of employees' expenses. It offers freedom for employees and control over expenses for Finance. Employees no longer need to advance expenses or file expense reports. They can easily upload receipts for card transactions using the Spend Cloud App. Spend Cloud Cards seamlessly integrate with Cash & Card software.
Cash & Card is valuable when employees make expenses on behalf of the organization, for example, from various departments and locations. Your organization can set card limits and how these limits are increased. Employees can only make expenses within these predefined limits. These expenses are visible in real-time in a single overview for all types of payments (card, cash, online).
Empower employees
Employees no longer need to front costs or file expense reports. They pay with the card and immediately account for the expenses. They can upload the receipt via the app, allowing Spend Cloud to further process and forward the expenses to the financial system.
Read more about what Cash & Card software can do:
When is expense claims with Spend Cloud interesting?
Suppose your organization does not use smart payment cards. In that case, employees can still incur expenses and be reimbursed through the Spend Cloud. Expense reporting software is also useful as a supplement to payment cards for employees who incur occasional expenses.
Expense reports can be easily submitted through the Spend Cloud App. Using a predefined workflow, the expense report reaches the right person who can review it with a single click. Upon approval, it is forwarded to the financial system.
Read more about what Spend Cloud Expense Claims can do:
Expense: a combination of smart payment cards, Cash & Card software, and expense claims software
For all stakeholders, the expense reporting process is often error-prone and labor-intensive. By using Cash & Card software and providing employees with their payment cards, expenses can be limited. In combination with Spend Cloud expense reporting software, remaining expenses can be smoothly handled, whether they come through a payment card or an expense report in the Spend Cloud.